By the JSB Partners Market Knowledge Team.
Join the JSB Partners network and you gain access to our Compensation Report for Public Accountants and to our network of opportunities.
How do private investment funds pay, and what opportunities are open to you? Our JSB Partners Compensation Report answers both: how and why public accountants transition to private, what compensation looks like across different firm types and sizes, and the key steps professionals take to maximize their earning potential and career development. We gathered data from 650+ fund finance professionals across 150+ alternative asset management firms such as hedge funds, private equity, and private credit. This report shows real compensation data with firsthand knowledge from the placements and searches we’ve been retained for, giving you the true picture of what’s possible.
What compensation looks like at each level
The report covers fund accounting professionals at hedge funds, private credit funds and private equity funds in the New York Metropolitan Area. Median cash compensation in 2025, across all firm types and sizes:
- Associate (1 to 3 years of experience): $120K base, $25K bonus, $145K total*
- Senior Associate (4 to 7 years): $145K base, $40K bonus, $188K total*
- Assistant Controller (8 to 10 years): $185K base, $70K bonus, $260K total*
- Controller (10 to 15 years): $222K base, $160K bonus, $395K total*
*Total is the median of total compensation (base plus bonus), not the sum of the median base and median bonus.
From 2024 to 2025, Assistant Controller and Controller roles saw the largest increases in pay, as firms compete for experienced accounting professionals.
Median total compensation also varies by type of firm:
- Associate: $132K at private equity, $140K at private credit, $144K at hedge funds
- Senior Associate: $178K at private equity, $185K at private credit, $185K at hedge funds
- Assistant Controller: $234K at private equity, $245K at private credit, $250K at hedge funds
- Controller: $370K at private equity, $363K at private credit, $385K at hedge funds
We are collecting 2026 compensation data now. Because many bonuses have not yet been paid, full-year figures will follow at year-end, and early results already point to higher packages in 2026 than in 2025.
Making the move from public accounting
The report outlines five stages that raise your market value:
- Have the right mindset. At junior levels, firms look beyond technical skills for hardworking, dedicated team players who are eager to learn. Meeting regularly with senior leaders helps you grow faster.
- Gain experience in public accounting. Professionals with both public and private accounting experience earn more than those with private experience only: 5.8% more as an Associate and 7.2% more as a Senior Associate.
- Obtain your CPA license. A CPA opens doors to firms and roles that may otherwise be out of reach, and it pays: Controllers with a CPA earn 13.3% more ($400K with a CPA versus $350K without).
- Gain experience in private accounting. In-house work at an alternative asset management firm brings cross-functional experience, close work with senior leadership, strong base salaries, performance-based bonuses and a clear path to Controller and CFO, with better work-life balance than public accounting.
- Acquire skills in technology and automation. Top-tier firms invest in modern accounting technology, and experience with it is highly sought after.
What you get when you work with us
A recruiting firm that understands your skills and goals makes the move out of public accounting easier. When you work with JSB Partners:
- We handle the entire process, from the first conversation to your offer.
- You get access to new roles that other people don’t see.
- You get strong interview preparation for your specialty, plus coaching on your interview performance.
- We negotiate for your market value, so your offer reflects what your experience is worth.
Whether you’re making the shift from public to private or weighing your next move within the industry, we take the time to understand your goals and back you at every step. We hope the report is useful, and we look forward to staying connected.